Low Cost Health Plan - Quality Coverage at a Low Price
It's possible to find quality coverage at a low price.
But, there are some things you should be aware of to make sure you end up with the right plan.
Major Medical Coverage A low cost health plan can sometimes be low quality, because some plans only provide coverage up to $50,000 or $75,000.
Also, many plans will only pay for one surgery if you need more than one surgery resulting from the same accident or medical event.
This could leave you with financial heartache after you recover.
Be sure that your plan has comprehensive major medical coverage.
Find out what the lifetime maximum benefit is, and what the annual benefit maximum is.
"Low cost health plan" doesn't have to mean "no protection.
" Tax Advantaged Plans If you could benefit from tax saving, and the plan you are looking at doesn't offer the ability to use a Health Savings Account with your plan, you may be looking at the wrong plan.
Low cost health plan options include "Qualified High Deductible Health Plans.
" These plans are qualified by the Internal Revenue Service to be used with a Health Savings Account, which means that you can pay for all of your medical expenses using money that has been deposited into your account pre-tax, and comes out tax free.
Paying Claims How is the company at paying claims? Have people had problems collecting when they needed their insurance company there for them most? After a surgery or accident is not the best time to find out how reliable your insurance company is at paying claims.
Do your research up front.
Visit the Better Business Bureau website to find out if there have been problems with the company you are considering.
Low cost health plans don't have to be "cheap" when it comes to coverage.
Do your research, and you can easily find an affordable plan that offers high quality major medical coverage.
But, there are some things you should be aware of to make sure you end up with the right plan.
Major Medical Coverage A low cost health plan can sometimes be low quality, because some plans only provide coverage up to $50,000 or $75,000.
Also, many plans will only pay for one surgery if you need more than one surgery resulting from the same accident or medical event.
This could leave you with financial heartache after you recover.
Be sure that your plan has comprehensive major medical coverage.
Find out what the lifetime maximum benefit is, and what the annual benefit maximum is.
"Low cost health plan" doesn't have to mean "no protection.
" Tax Advantaged Plans If you could benefit from tax saving, and the plan you are looking at doesn't offer the ability to use a Health Savings Account with your plan, you may be looking at the wrong plan.
Low cost health plan options include "Qualified High Deductible Health Plans.
" These plans are qualified by the Internal Revenue Service to be used with a Health Savings Account, which means that you can pay for all of your medical expenses using money that has been deposited into your account pre-tax, and comes out tax free.
Paying Claims How is the company at paying claims? Have people had problems collecting when they needed their insurance company there for them most? After a surgery or accident is not the best time to find out how reliable your insurance company is at paying claims.
Do your research up front.
Visit the Better Business Bureau website to find out if there have been problems with the company you are considering.
Low cost health plans don't have to be "cheap" when it comes to coverage.
Do your research, and you can easily find an affordable plan that offers high quality major medical coverage.